Austrian Airlines Group issued a profit warning projecting a loss of up to €90 million ($141.8 million) in 2008 owing to high fuel costs and tough competition.
The carrier revealed that it has hedged only 20% of the fuel it will require this year. AAG's board on Monday hired Boston Consulting to help it develop a survival strategy, with a particular focus on finding a "strategic partner" that could take partial ownership of the Austrian flag carrier. Currently, state holding company ...